Intel sells NAND chip business to SK Hynix for $9 billion

Intel has agreed to sell its NAND memory chip business to SK Hynix for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings.

The move marks the latest effort by the U.S. chip giant to divest its non-core businesses, move away from the volatile commodity NAND chip industry, and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology.

Read More